Overview

Click to expand overview

Earlier today, the exchange revealed that BNB Chain executed its 22nd BNB burn. Through this initiative, the exchange carried out the burn and removed $600 million worth of Binance Coin According to a statement from Binance, 2.064 million BNB, or around $620 million at today’s values, have been taken out of circulation. In terms of BNB tokens, the 22nd As Binance is following an auto- burn program, it has burned over 2 million BNB tokens for its 22nd burn. The overall worth of the tokens burnt values at $621 million. The world’s largest crypto exchange Binance burned 2,064,494.32 BNB tokens in the 22nd quarterly token burn mechanism, the exchange said on Tuesday. Binance Binance is once again making headlines following its quarterly burns. Earlier today, the exchange revealed that BNB Chain executed its 22nd BNB burn. Through this Binance has burned another 2 Million BNB in their 22nd quarterly

Binance Burns 2 Million BNB Tokens in 22nd Quarterly Burn: A Deep Dive

Binance is once again making headlines following its quarterly burns. Earlier today, the exchange revealed that BNB Chain executed its 22nd BNB burn, permanently removing a significant amount of Binance Coin (BNB) from circulation.

22nd BNB Burn Details: Millions Destroyed

The world’s largest crypto exchange Binance burned 2,064,494.32 BNB tokens in the 22nd quarterly token burn mechanism, the exchange said on Tuesday. As Binance is following an auto- burn program, it has burned over 2 million BNB tokens for its 22nd burn. The overall worth of the tokens burnt values at $621 million.

$620 Million Worth of BNB Taken Out of Circulation

According to a statement from Binance, 2.064 million BNB, or around $620 million at today’s values, have been taken out of circulation. This significant burn reduces the total supply of BNB, potentially impacting its value in the long term.

What is a BNB Burn and Why Does Binance Do It?

Through this initiative, the exchange carried out the burn and removed $600 million worth of Binance Coin. The 22nd burn is part of Binance's ongoing commitment to reduce the total supply of BNB to 100 million. This deflationary mechanism is designed to benefit BNB holders by potentially increasing the scarcity and value of the remaining tokens.

Impact of the 22nd Quarterly Burn

In terms of BNB tokens, the 22nd As Binance has burned another 2 Million BNB in their 22nd quarterly. This latest burn highlights Binance's dedication to its auto-burn program and its commitment to managing the BNB supply.

Stay tuned for more updates on Binance and the BNB ecosystem.